The Crypto Daily – Movers and Shakers – September 22nd, 2021

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Updated: Sep 22, 2021, 01:14 UTC

Following a third consecutive day in the red and a return to sub-$40,000 for Bitcoin, a Bitcoin move back through to $43,000 levels would support the pack.

Pattern of coins LTC, ETH, BTC, XMR, XRP on a dark background. Business concept.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Bitcoin Cash SV rose by 3.08% to buck the trend on the day.

It was a bearish day for the rest of the majors, however.

Chainlink slid by 9.10% to lead the way down, with Ethereum (-7.08%) also struggling.

Binance Coin (-5.47%), Cardano’s ADA (-4.64%), Crypto.com Coin (-1.15%), Litecoin (-5.50%), Polkadot (-1.53%), and Ripple’s XRP (-5.22%) saw relatively modest losses, however.

Early in the week, the crypto total market rose to a Monday high $2,136bn before sliding to a Tuesday low $1,743bn. At the time of writing, the total market cap stood at $1,824bn.

Bitcoin’s dominance rose to a Monday high 42.97% before falling to a Tuesday low 41.37%. At the time of writing, Bitcoin’s dominance stood at 42.36%.

This Morning

At the time of writing, Bitcoin was up by 0.95% to $41,134.0. A mixed start to the day saw Bitcoin fall to an early morning low $40,636.0 before rising to a high $41,494.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was down by 7.46% to buck the early trend.

It was a bullish start for the rest of the majors, however.

At the time of writing, Cardano’s ADA was up by 1.74% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $41,350 pivot the 38.2% FIB of $41,592 to bring the first major resistance level at $43,023 into play.

Support from the broader market would be needed for Bitcoin to break back through to $43,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $43,625.0 would likely cap the upside.

In the event of a broad-based crypto rebound, Bitcoin could test resistance at $45,000 levels before any pullback. The second major resistance level sits at $45,297.

Failure to move through the $41,350 pivot and the 38.2% FIB of $41,592 would bring the first major support level at $39,076 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $37,403.

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.